Millennials are stereotyped as career hoppers. People born between 1980 and 1996 are often seen as less loyal to any one group than any previous generation.

The evidence supports this. More than three times as many millennials as non-millennials report switching employment during the last year, according to a new Gallup research on the millennial demographic. Gallup calculates that the millennial generation’s high turnover rate damages the American economy by $30.5 billion annually.

There’s evidence that millennials are less committed to their present employers than their predecessors. About 40% of millennials and 60% of non-millennials are confident that their current employer will still employ them in twelve months. Regarding the implications for businesses, half of their millennial staff is not committed to staying with the company long-term.

Many millennials actively seek new employment opportunities since they do not want to remain in their current careers. According to Gallup, millennials are more likely than employees of any other generation to be interested in exploring other career options. In addition, millennials are the most likely to take advantage of a stronger job market, with 36% saying they want to seek a new employer within the next year. This compares to 21% of workers born before 1980 who say the same thing.

In comparison to other generations, millennials’ participation rates are low.

Why do so many millennials tend to hop from place to place? Their lack of interest in their profession is one possible explanation. According to Gallup, only 29% of millennials are engaged in their jobs, meaning that only approximately 3 in 10 have an emotional and behavioral connection to their employer and work. In addition, 16% of millennials are “actively disengaged,” meaning they actively seek to harm their employer. When compared to workers from previous generations, millennials have the lowest levels of engagement (55%).

Many millennials may not want to change careers, yet may feel unmotivated to stay with their current employers. Millennials have every reason to pursue a seemingly superior opportunity. While millennials may appear to always want more, they want a job where they can make a difference and won’t stop hunting for it.

Attraction and retention strategies are equally important.

Millennials see themselves as workplace consumers, open to exploring and pursuing opportunities outside. Today’s executives face a double whammy: retaining their current millennial workforce while also attracting the millennials who are eager to leave their present firms.